The US Securities and Exchange Commission continues to delay decisions on numerous spot cryptocurrency ETFs, including more than a dozen applications seeking to track Ripple’s XRP token. These postponements persist despite leadership changes at the agency following Donald Trump’s presidential victory and Gary Gensler’s departure.
The SEC began its delaying pattern in mid-August, extending deadlines for multiple spot XRP ETF applications to October and requiring issuers to make several changes to their filings. This week, the agency also delayed Franklin’s application, pushing its deadline from September 17 to November.
John Squire, a prominent XRP community member with over 500,000 followers on X, analyzed these postponements and noted that the SEC «almost always» delays first-round ETF filings, as it did repeatedly with Bitcoin and Ethereum applications before eventual approval. He explained that delays allow time for public comments and more thorough internal review.
Squire believes political pressure plays a role, as approving XRP ETFs would acknowledge institutional demand for the asset. He suggested the SEC is moving cautiously to avoid appearing to act «too fast» during a politically charged year. The agency also seeks clarity on custody, settlement, and surveillance-sharing agreements before approval.
Despite the delays, Squire emphasized that the Commission has not rejected any applications, which he considers a positive sign. Both Bitcoin and Ethereum underwent similar processes before receiving approval in 2024. He concluded that Wall Street wants XRP exposure and that Ripple ETFs are «inevitable.»
ETF experts and prediction markets support this assessment.
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